Author Question: Firm X is producing 1000 units, selling them at 15 each. Variable costs are 3 per unit and the firm ... (Read 106 times)

folubunmi · **on:** Jul 1, 2018

Firm X is producing 1000 units, selling them at 15 each. Variable costs are 3 per unit and the firm is making an accounting profit of 3000 . What is the firm's total variable costs?
a. 1000
b. 3000
c. 5,000
d. 7,000

Question 2

Firm X is producing 1000 units, selling them at 15 each. Variable costs are 3 per unit and the firm is making an accounting profit of 3000 . What is the firm's fixed costs?
a. 9,000
b. 10,000
c. 11,000
d. 12,000